Karachi, December 1, 2025 – The Federal Board of Revenue (FBR) has announced that it will determine the cost of assets for tax purposes during the tax year 2026, in accordance with the Income Tax Ordinance, 2001. This move is aimed at providing clarity for taxpayers and businesses regarding asset valuation for taxation.
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FBR, Pakistan’s national tax collecting agency, plays a crucial role in the country’s economy. Pakistan Revenue is committed to providing readers with the latest updates and developments regarding FBR activities.
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I&I IR Peshawar seizes illicit cigarettes, seals Indus Tobacco
Islamabad, November 30, 2025 – In a major enforcement operation, the Intelligence and Investigation (I&I) wing of Inland Revenue (IR) Peshawar has recovered a large consignment of illicit cigarettes and sealed the manufacturing machinery of M/s Indus Tobacco Company, continuing the Federal Board of Revenue’s (FBR) nationwide crackdown on non-duty-paid (NDP) tobacco products.
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FBR seals Souvenir Tobacco machinery over illicit cigarette production
Islamabad, November 30, 2025 – In a major crackdown against the illicit cigarette trade, the Federal Board of Revenue (FBR) has sealed the manufacturing machinery of M/s Souvenir Tobacco after discovering large quantities of non-duty-paid (NDP) and non–Track and Trace System (TTS) cigarettes.
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Pakistan faces deepening revenue crisis as FBR’s November shortfall doubles
ISLAMABAD, November 30, 2025 – Pakistan’s revenue collection crisis widened sharply in November 2025, with the Federal Board of Revenue (FBR) facing one of the largest monthly shortfalls of the fiscal year amid sluggish economic activity, industrial closures, and higher tax rates that continue to squeeze the formal sector.
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FTO orders FBR to suspend Gerry’s Dnata license over mega fraud
Islamabad, November 30, 2025 – In a major development, the Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to initiate the process for suspending the license of M/s Gerry’s Dnata for its Karachi airport cargo shed, following revelations of a massive customs fraud involving illegal clearance of high-value imported goods.
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FBR Warns: Penalties for Property Transactions Without Banking Channels in 2026
Islamabad, November 28, 2025 – If you are planning to buy property with cash payment or outside banking channels, the Federal Board of Revenue (FBR) has issued strict tax rules and penalties to ensure compliance. For the tax year 2026, property transactions conducted without proper banking or digital channels will remain illegal and subject to heavy fines.
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FBR issues new rules for asset declarations by public servants
Islamabad, November 28, 2025 – The Federal Board of Revenue (FBR) has notified updated rules regarding asset declarations by public servants, aiming to improve transparency and ensure proper sharing of financial information between government bodies and banks.
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FBR clarifies fair market value rules for tax year 2026
Karachi, November 27, 2025 – The Federal Board of Revenue (FBR) has provided a detailed explanation of fair market value for transactions conducted during tax year 2026 (July 1, 2025, to June 30, 2026).
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PM Shehbaz orders two-year increment freeze for BS-20 IRS officer over Inefficiency
Islamabad, November 27, 2025 – Prime Minister Shehbaz Sharif has approved a disciplinary penalty against a senior BS-20 Inland Revenue Service (IRS) officer after charges of inefficiency were proven during an official inquiry. The Prime Minister ordered that the officer’s annual increment be withheld for two years.
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FBR welcomes Supreme Court ruling upholding confiscation of vehicle used in smuggling
Islamabad, November 27, 2025 – The Federal Board of Revenue (FBR) has welcomed a landmark judgment by the Supreme Court of Pakistan reaffirming the confiscation of vehicles involved in transporting smuggled goods.
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